Reinsurance News
Severe storms and flooding cause major damage across Texas and Oklahoma: Aon
30th May 2025
Aon, a professional services firm specialising in risk, retirement, and health solutions, has released its latest Weekly Catastrophe Report highlighting severe weather impacts across the United States. Over the past week, the southern US experienced a series of intense storms, with Texas facing the most significant disruptions. Multiple rounds of severe weather, ... Read the full article
Arden surpasses $300m of in-force premium
30th May 2025
Arden Insurance Services, a tech-enabled managing general agency (MGA), has surpassed $300 million of in-force premium since its founding in June 2016. This major milestone means Arden now insures over $175 billion of total insured value. The MGA attributes its rapid growth to a distinctive strategy that combines dynamic risk selection, proprietary ... Read the full article
Florida’s personal property insurance market sees first underwriting profit in eight years: AM Best
30th May 2025
Florida’s personal property insurance market reported a significant recovery in 2024, posting its first underwriting profit after eight consecutive years of losses, according to a recent AM Best report. The sector also recorded a substantial increase in pre-tax operating income, reflecting a notable improvement in financial performance. The AM Best Market Segment ... Read the full article
Lee Mooney to succeed Neil Galjaard as MD of Markel UK
30th May 2025
Markel Insurance, the insurance arm of Markel Group Inc., has appointed Lee Mooney to lead its UK regional business, succeeding Neil Galjaard, who will step down from his role towards the end of June. Galjaard has served as Divisional Managing Director of Markel UK since 2016, during which time revenue grew ... Read the full article
Acrisure Re forecasts “above average” 2025 Atlantic hurricane season
30th May 2025
The upcoming 2025 Atlantic hurricane season is expected to see “above average” activity, though likely less extreme than in 2024, with the reinsurance market appearing well-positioned to manage it, according to Acrisure Re, the re/insurance division of Acrisure. In its annual Pre-Season Hurricane Outlook, Acrisure Re noted that Atlantic Sea Surface ... Read the full article
AM Best upgrades VSIC’s credit ratings following acquisition by FM
30th May 2025
AM Best has removed the under review with developing implications status it placed on Velocity Specialty Insurance Company (VSIC) earlier this year, upgrading its Financial Strength Rating to A from A- and its Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-”, with a stable outlook. The upgrades reflect ... Read the full article
Palomar extends earthquake reinsurance coverage to $3.53bn at June 1
30th May 2025
Palomar Holdings has completed key reinsurance placements effective June 1, 2025, adding approximately $455 million in incremental limit to support its expanding Earthquake franchise, bringing total earthquake coverage to $3.53 billion and U.S. hurricane coverage to $100 million. The firm explained that per occurrence event retention is $11 million for hurricane ... Read the full article
Gallagher appoints Steve Parker as MD of its specialist UK property owners broker
30th May 2025
Steve Parker is to head up Vasek Insurance, part of Gallagher’s UK & Ireland Retail division, as Managing Director, taking over the role from James Collins, who has been appointed Managing Director to lead the firm’s UK-wide real estate offering. With an 80-strong team of insurance professionals, Vasek offers easier access ... Read the full article
American Integrity lifts reinsurance limit by 45% to $2.59bn amid premium and exposure growth
30th May 2025
Florida headquartered property insurer American Integrity Insurance Group has completed the placement of its 2025-2026 catastrophe excess-of-loss reinsurance program, lifting the amount of limit secured by 45%, or $799 million year on year to $2.59 billion. Effective June 1st, 2025, the reinsurance program provides the firm's insurance subsidiary, American Integrity Insurance ... Read the full article
Universal subsidiaries complete $2.526bn reinsurance program for 2025–2026
30th May 2025
Universal Insurance Holdings’ wholly-owned insurance subsidiaries have completed their combined reinsurance program for the 2025–2026 period, setting the top of their reinsurance tower for a single All States event (including Florida) at $2.526 billion. This represents an increase of $110 million compared to the 2024–2025 program. The new coverage, which applies ... Read the full article
Global shipping losses drop to record low of 27 vessels, but new geopolitical risks loom: Allianz
30th May 2025
Global shipping losses have fallen to their lowest level in decades—just 27 vessels in 2024, down from more than 200 annually in the 1990s—according to the Safety and Shipping Review 2025 by Allianz Commercial, the corporate insurance division of Allianz Group. Despite the improvement in maritime safety, Allianz warns the industry ... Read the full article
Acrisure acquires Global Payments’ payroll business for $1.1bn
30th May 2025
Global fintech Acrisure has entered into a definitive agreement to acquire Heartland Payroll Solutions, Global Payments’ payroll business, for $1.1 billion. Heartland Payroll is a payroll and human capital management (HCM) company in the United States. Upon completion of the transaction, it will be rebranded. The company currently provides payroll solutions, ... Read the full article
‘Transformational’ Brazos and Twenty Mile merger enables Revau strategic expansion across NA
30th May 2025
Canadian managing general agent (MGA) Revau, a specialist in property and casualty insurance, is expanding its footprint in the US through its recent partnership with Brazos Specialty Risk Insurance and Twenty Mile Insurance Services, two independent, Texas-based MGAs. In addition to broadening its presence and operational capabilities in the country, this ... Read the full article
kWh Analytics appoints Anthemis founder Amy Nauiokas to board
30th May 2025
kWh Analytics, a provider of climate insurance and risk management for renewable energy projects, has appointed Amy Nauiokas—Founder and Group CEO of Anthemis Group—to its Board of Directors. The move reinforces kWh Analytics’ ambition to scale its data-driven insurance solutions at a time when the clean energy sector faces growing climate ... Read the full article
Generali gets €200m of windstorm & quake reinsurance with return to ILS market
29th May 2025
Italian headquartered insurer Generali has returned to the insurance-linked securities (ILS) market sponsoring a catastrophe bond issued by Lion Re DAC that comprises two classes of notes for a total of €200 million covering windstorms in Europe and earthquakes in Italy. The Series 2025-1 Notes have been placed with capital ... Read the full article
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